By Sheri Kasprzak
Atlanta, March 17 - Arapahoe Energy Corp. said it will raise C$7 million in a private placement.
The offering includes 11,111,111 flow-through common shares at C$0.45 each and 5 million common shares at C$0.40 each.
The deal, which is being placed through agent Dominick & Dominick Securities Inc., is expected to close April 8.
Based in Calgary, Alta., Arapahoe is an oil and natural gas exploration company. It plans to use the proceeds for its 2005 exploration-drilling program and for working capital.
| Issuer: | Arapahoe Energy Corp.
|
| Issue: | Flow-through shares and common shares
|
| Amount: | C$7 million
|
| Placement agent: | Dominick & Dominick Securities Inc.
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| Pricing date: | March 17
|
| Settlement date: | April 8
|
| Stock price: | C$0.42 at close March 17
|
|
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| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 11,111,111
|
| Price: | C$0.45
|
| Warrants: | No
|
|
|
| Common shares
|
| Issue: | Common shares
|
| Shares: | 5 million
|
| Price: | C$0.40
|
| Warrants: | No
|
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